Global Anesthesia Workstation Market Driven by Growing Number of Surgeries
Posted on 20 Jun 2023
An anesthesia workstation is designed to deliver a mixture of hypoxic gas to patients during surgical procedures, utilizing gases such as nitrous oxide (N2O), oxygen (O2), and air. The global market for anesthesia workstations is expanding due to their growing use in various surgical procedures. Moreover, a rise in the elderly population and expanding patient pool, along with advancements in anesthesia monitoring technology, are propelling the market's growth. However, factors such as the substantial cost of establishing an anesthesia workstation, contamination risks, and the prevalence of traditional anesthesia techniques are hampering the market growth. The global anesthesia workstation market is projected to grow at a compound annual growth rate (CAGR) of 6.5% from USD 1.75 billion in 2021 to USD 2.55 billion by 2028.
These are the latest findings of Facts and Factors (New York, NY, USA), a market research firm.
A key factor contributing to the anesthesia workstation market's growth is the increasing volume of surgeries being performed that require anesthesia administration. As the prevalence of chronic diseases such as cataracts, muscle repair, dental conditions, and gastrointestinal issues requiring surgery increases, so does the adoption of anesthesia workstations. Therefore, the growing number of surgeries worldwide is anticipated to further boost the anesthesia workstation market.
Technological advancements in anesthesia workstations are also fueling market growth. Anesthesia workstations are now being engineered specifically for total intravenous (IV) administration. Plus, modern installations are using microprocessors for gas flow control, enabling easy identification of gas flows in a dimly lit theatre and the export of electronic data to an information system for fresh gas delivery. Such product development innovations will likely enhance the uptake of anesthesia workstations and drive an increase in their demand. On the downside, the high costs of installation and maintenance of anesthesia workstations present a challenge, hampering their adoption by hospitals and other end users. The need for government certifications and permissions further acts as a barrier, limiting the utilization of such equipment in the healthcare sector and making market entry difficult for new players.
Based on type, the mobile segment held the lion's share of the anesthesia workstation market in 2021, due to the growing global penetration of smart devices. By application, the hospital segment is expected to experience the fastest growth rate, driven by the growing number of patients seeking hospital services. Geographically, North America held the largest market share globally in 2021. Factors such as rising cases of severe trauma & pain, advancements in anesthesia system technology, growing investments in R&D of anesthesia stations, and the introduction of improved devices contributed to the region’s growth. Further, technological advancements in research, such as the incorporation of AI for anesthesiologists, are significantly driving the demand for anesthesia workstations in North America.
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